Short answer
DYNEX CAPITAL INC (DX) filed an 8-K current report with the SEC on September 29, 2026 reporting Item 3.03 (Material Modification to Rights of Security Holders), Item 5.03 (Amendments to Articles of Incorporation or Bylaws), Item 8.01 (Other Events). Series D designation effective September 29, 2026; 5,520,000 authorized shares, including 4,800,000 offered shares and 720,000 option shares.
DYNEX CAPITAL INC 8-K event analysis
AI summary of each reported item and its exhibits
Item 3.03 · Material Modification to Rights of Security Holders
- Series D designation effective September 29, 2026; 5,520,000 authorized shares, including 4,800,000 offered shares and 720,000 option shares
- 9.375% cumulative dividend on $25 liquidation preference, equal to $2.34375 annually per share
- Quarterly dividends begin January 15, 2027; long first dividend period from September 29, 2026
- Senior to common equity but junior to company and subsidiary debt; pari passu with 6.900% Series C preferred stock
- No ordinary voting rights; holders gain two-director election rights after six missed quarterly dividends, creating governance pressure during prolonged dividend arrears
Item 8.01 · Other Events
- Offering closed September 29, 2026, completing the previously announced issuance and sale of underwritten shares
- Morrison & Foerster LLP provided legal and tax opinions supporting the share issuance
- Expected net proceeds and intended use remain forward-looking, subject to execution and market risks
Other items in this filing:
- Item 5.03: Amendments to Articles of Incorporation or Bylaws
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